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City taps advisers to steer $500 million biotech initiative

The 15-member board includes a Nobel laureate and a hedge fund billionaire

The city has selected a 15-member Life Sciences Advisory Council to steer Mayor Bill de Blasio’s 10-year, $500 million LifeSci NYC initiative. Its goal is to create 16,000 well-paying jobs in the industry.

The chairs who helped de Blasio announce the program in December are Vicki Sato, a professor at Harvard Business School, and Dr. Harold Varmus, a Nobel laureate and professor at Weill Cornell Medical College.

They played a critical role in selecting the other 13 members, said James Patchett, president of the city Economic Development Corp. He said the city sought to attract a mix of talent from academia, commercial research, finance and philanthropy.

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